Indias WPI inflation eases to 15.18% in June from record high of 15.88% in May

The wholesale inflation rate in India fell to 15.18% in June, according to figures released by the Ministry of Commerce and Industry.

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The wholesale price index (WPI) increased to 15.88% in May, whereas the WPI for April was amended to 15.38% from 15.08%, according to the statistics. In June 2021, the WPI was 12.07%.

Beginning in April 2021, WPI inflation has been in the double digits for the 15th consecutive month.

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“The high rate of inflation in June 2022 is primarily due to rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year,” the government said in its press release.

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According to the report, the food articles segment increased by 14.39% in June. This was 12.34% the previous month. The monthly increase can be attributable to an increase in vegetable costs.

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In June, vegetable prices increased 56.75% compared to 56.36% in May, according to the report. Potato prices increased by 39.38%, while onion prices decreased by (-)31.54%. Fruit prices increased by 20.33% last month, up from 9.98% in May, while milk prices increased by 6.35%, up from 5.81% the previous month. Prices of eggs, meat, and fish climbed 7.24% in June, down from 7.78% the previous month, while cereals rose 7.99%, down from 8.01%.

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Last month, the fuel and power segment fell to 40.38% from 40.62% in May. Petrol prices fell to 57.82% from 58.78% a month earlier, HSD (High-Speed Diesel) prices dropped to 54.93% from 65.23%, and LPG prices rose to 53.20% from 47.71%.

The manufactured products segment declined to 9.19% in June from 10.11% the previous month.

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Separate statistics released earlier this week showed that the country’s retail inflation, as determined by the Consumer Price Index (CPI), fell to 7.01% in June.